Carbon-Free Crypto: TeraWulf Powers Bitcoin Mining With Nuclear Energy

TeraWulf Inc. (NASDAQ: WULF) on Monday announced that Pennsylvania is now home to a 100% nuclear-powered Bitcoin (CRYPTO: BTC) mining facility, a first of its kind, utilizing reliable, carbon-free, and 24x7 baseload power from the 2.5 GW Susquehanna nuclear generation station in Pennsylvania.

The facility, Nautilus Cryptomine, is a joint venture between TeraWulf and Cumulus Coin, LLC.

TeraWulf has already energized half of its 50-MW stake in the Nautilus Cryptomine facility and has brought nearly 8,000 of its miners online, representing a hash rate capacity of approximately 1.0 EH/s.

Energization of the remaining miners will continue over the coming weeks, with TeraWulf's full share in phase one of the facility expected online by May.

The Nautilus nuclear-powered mining facility benefits from arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years.

TeraWulf has the option to add another 50 MW of Bitcoin mining capacity at the Nautilus facility, which the company plans to deploy in future phases.

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“With the recent energization of the Nautilus facility earlier this month, approximately 16,000 of TeraWulf’s owned miners, representing 1.9 EH/s of self-mining capacity, are onsite and being brought online daily,” said Paul Prager, Chairman and CEO of TeraWulf. “The Nautilus nuclear-powered mining facility benefits from what is arguably the lowest cost power in the sector, just $0.02/kWh for a term of five years,” continued Prager.

In addition to the Nautilus facility, TeraWulf is expanding its Bitcoin mining operations at its wholly-owned Lake Mariner facility in New York.

The addition of Building 2 will increase the facility's operational capacity from 60 MW to 110 MW.

The company expects to have a total operational capacity of 50,000 miners (5.5 EH/s) in early Q2 2023, representing approximately 160 MW of power demand.

TeraWulf intends to provide an unaudited monthly production and operations update for February 2023 in the coming days.

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